LayerZero Raises $55M, Fueling Growth of Its Cross-Chain Protocol

LayerZero’s native token, ZRO, is seeing a surge in value following a significant investment from Andreessen Horowitz (a16z). The venture capital firm recently purchased an additional $55 million worth of ZRO tokens, subject to a three-year lock-up period. This funding will support LayerZero’s ongoing development activities. 125 different blockchains are supported by the protocol, facilitating over $75 billion in transactions and exchanges.